This morning, PepsiCo (NASDAQ:PEP) reported fourth quarter earnings of $1.74 billion, or $1.12 per share, as revenue remained relatively flat at $20.11 billion. Excluding one-time items, the company would have earned $1.05 per share, topping Wall Street estimates. In the report, the company said it expects to increase the amount of money returned to shareholders in the form of both increased dividends and share buybacks. For 2014, the board of directors set its annual dividend at $2.62 per share and increased its buyback program to about $5 billion. On the news, shares of PepsiCo were lower with the markets on Thursday, falling 0.6% today.
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